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Quorum Announces Acquisition Of Vinn Automotive Technologies Limited

Jun 27, 2023•over 2 years ago

Acquiring Company

Quorum Information Technologies

Acquired Company

Quorum Information Technologies

CalgaryCalgarySoftwareConsultingInformation TechnologySoftwareConsultingInformation Technology

Description

Quorum Information Technologies Inc. (TSX-V: QIS) (OTC Pink: QIFTF) (“Quorum”), a North American SaaS Software and Services company providing essential enterprise solutions that automotive dealerships and Original Equipment Manufacturers (“OEMs”) rely on for their operations, is pleased to announce that it has closed the arms-length acquisition (the “Transaction”) of VINN Automotive Technologies Limited (“VINN”) - New & Used Cars for Sale | VINN. VINN is Quorum’s fifth acquisition in six years and marks another step forward in Quorum’s strategy to be a full-service provider to automotive dealerships.

Company Information

Company

Quorum Information Technologies

Location

Calgary, Alberta, Canada

About

Quorum is a provider of innovative and robust software technology solutions and services for traditional and electric vehicle dealerships and Original Equipment Manufacturers (OEMs) across North America. The company delivers a comprehensive suite of integrated software, including enterprise resource planning (ERP), customer relationship management (CRM), digital retailing, and enterprise reporting and analytics, designed to solve complex operational challenges while driving greater efficiency, synergy, and long-term value for its customers.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed